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on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee hearing. they're going to hear from a top economist not only about the jobs numbers coming out tomorrow but also about what can be done to avoid this issue at the end of the year. >> tracie potts for us in washington. thank you. >>> last night on the ed show, steny hoyer explains why he thinks the debt ceiling vote should be taken off the table. >> the debt ceiling is a phone y vote, frankly. and from time to time democrats have made it an item that they demagogue down and the republicans have demagogued on it, as well. the debt lim
, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well be some progress on a compromise. that flies in the face of harry reid saying little progress is made. that is what is driving the u.s. markets and the global markets as well. the fed's beige book says there is a tepid growth. you have the housing market against that manufacturing and superstorm sandy. interesting stats expected out of the auto sectors. this could be good news. we think there may ab a pace of somewhere in the region of 15.2 million cars sold in november. the fact is that americans got very old fleet of cars. the average age of car now is 11 years old. it's 20% of the cars on the road are 16 years old. maybe renewing the cars is a big factor. great numbers for abercrombie and fitch, the shares are up 15%. this is a very well received set of n
. this comes on the heels of a phone call between president obama and speaker boehner which occurred credit. my sources are telling me the phone call lasted for about a half an hour. politico described it as curt, but may sources say that's not necessarily the case. so of course treasury secretary tim geithner coming in to the hill trying to move the needle on the fiscal cliff and we're hearing that there are sort of broad outlines of a framework emerging. but of course they really need to put some meat on the bones. what does that mean in terms of increasing taxes and cutting medicare. to those are some of the issues being hammered out today. >> kristen, thank you so much. so as we said, it is tim geithner's day on the hill. is this a sign that talks are being accelerating or hitting stumbling blocks? joining me now senator kent conrad. sir, great to have you here. we showed the headline at the top of the show, from politico, the fiscal framework emerging. are the contours of the deal really taking shape? you heard kristen welker saying the description of that phone conversation may not have b
obama and speaker boehner spoke on the phone yesterday for the first time in days. both men agreed not to publicly characterize how the conversation went. but the stalemate in negotiations entered new territory yesterday with treasury secretary tim geithner suggesting the white house is ready to go off the cliff if republicans refuse to raise taxes on the 2%. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans -- remember, it's only 2%. the size of the problem in some sense is so large, it can't be solved without rates going up as part of that. again, i think there's broad recognition of that reality now. >> one fallback option republicans are reportedly considering is to accept tax cuts for the middle class, allow rates to go up for the wealthiest, and then start the fight over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a
boehner and president obama to work out a deal? >> 24 hours. >> yeah. >> about 24 hours. boehner has the deal in his head he wants. his problem is he's trying to figure out how he gets that deal, not just in the room but then out of the room. with his caucus. and that's just the reality of it. i mean, you've got, again, republicans feel burned on this. republicans also feel engaged on it simply because that's what they ran on. and that's been a big part of the fiscal argument for republicans for the last two or three years has been controlling the spending, the size and growth of government. controlling the ability of the government to confiscate more of your wealth, to trust more on the middle class and the working class, small business owners. and that's really kind of the link. and that argument, you talked about being primaried, that's the central primary argument that will be -- hit them upside the head in two years when they run is wait a minute. we sent you to control spending, yet you increased taxes. it's not increasing taxes on the wealthy, it's just blanketly you increase
. senator mitch mcconnell reportedly burst into laughter while geithner was in the middle of outlining obama's plan. and house speaker john boehner who described his phone call with the president wednesday night as disappointing was not impressed by the white house proposal. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. right now all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they're really willing to make. >> boehner then raised the stakes by throwing the debt ceiling into the mix, suggesting that any plans to raise the nation's borrowing limit would have to be matched by spending cuts in the fiscal cliff deal. >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or
a crisis but it will require even more skill than talks between obama and boehner. >> i remember after reading k s kissi kissinger's book on china, a fascinating world view we are sort of evangelical about spreading democracy. china sees themselves as the center. no, you come to us. i said, is that true? do the chinese not want to sweep into europe? he said, no, you understand what the chinese want, look at the gdp number. it has to be at 9% or 10% or they feel they lose dprip on power. >> the narrative to any family in china if you look back about ten years they're better off. that's when the real problems set in. >> what are the poll outlets or ways that this country, that america can have sort of a resurgence in manufacturing. >> the natural gas boom and things like that placing an emphasis on speed. if you have an idea for a new product you want to get to market five weeks from now, it's possible to do that better in california, in texas and boston rather than going to hong kong. >> that's very -- >> you did mention on the list one of the things that the obama administration loves
hand. he's the sole negotiate, whatever he gets from president obama will be the rule of law. and i think what's really emboldened boehner, ironically, mitt romney's loss. it's this idea that john boehner's survived, he's the one who came through. we were able to keep the house. he does get a lot of credit for that among house republican circles, they were able to keep the house. people think -- >> he raised something like 100 million dollars. >> he's the kingmaker. i suspect that, from folks that i've talked to, eric cantor will not be a thorn in boehner's side. eric cantor realizes he has time, niece his 40s, he wants to be the first jewish speaker of the house. sit back, relax, you know what? if boehner becomes unpopular you don't have to lead a charge against him. you can say, well, that's too bad, john, you don't have the support. but he doesn't have to do anything, he can sit back. >> on positive way, it's not mitt romney's loss as obama's win which has helped him. they're bedfellows now. they've have to negotiate from a different perspective. >> what's shocked me there's this
obama has shown us what it looks like for the holidays, tonight is the first white house christmas party of the season. it's the white house christmas party for members of congress. john boehner, eric cantor, the top house republicans are all there at the white house alongside president obama tonight. and so e.j. dionne, senior fellow, friendliest person in the sunday morning circuit, while those guys are standing over the punch bowl, what should president obama be saying to them to get them to focus on what the country needs? >> i think i might say and do a couple things. i would have two really beautiful leather bound volumes and say to them, merry christmas. these are the county by county returns from the last election bound in this beautiful leather. you might want to study these. it's not 2010 anymore so let's figure out what to do. the second thing i'd say is this is a religious season so we think of religious folks. dear lord, give me chastity, but not yet. that's how you guys are with taxes. you sent me this letter. you say $800 million in taxes from tax reform, but we'll figure
at a stalemate. john boehner call this had a stalemate earlier today. president obama doesn't have any specific plans that the white house is reading out to talk to congressional leaders, but they say he will remain in contact with him in the coming days. >> kristen welker at the white house. thank you vyou very much. now to governor ed rendell. the optics of the president in the burbs is interesting. why did he choose the suburbs for this fight? >> these are traditional swing voter, voters who decide elections in pennsylvania. right now pennsylvania statewide elections are decided in the philadelphia suburbs. they're a decent demographic. not by any means poor people, but not rich people. they are the heart of the middle class, spexactly who the presidt is talking to. >> let's talk more about this proposal by the president. i want to just play a quick clip from harry reid from earlier in the week. here's what he had to say. >> remember we've already done more than a billion dollars worth of cuts. we've already done that. so we need to get credit for that and these negotiations that take place.
with president obama. they are both republicans and democrats. they all want to know how he's going to handle the fiscal cliff crisis. they will also meet with john boehner. boehner counter proposal yesterday. $600 billion in cuts in entitlement and $250 billion in changes in way the government changes inflation that would impact social security. let me bring in the national journal from the editor. good morning. i want to talk to you about this republican proposal saying republicans in congress want to get serious about asking the wealthiest to pay slightly higher tax rates. we won't be able to achieve a significant balanced approach to the deficit. it does have some revenue in it, even though it's not from tax increases. so what does this opening offer say about where we are in these negotiations? >> well, it seems very difficult to imagine that we're going to be getting to a deal that will handle everything that needs to be addressed before the end of the year. i think the first main thing that needs to be addressed is the question of the tax cuts expiring. and for the obama administration
need today. proven that it can be done. and we need president obama to come to the table, provide that leadership, the republicans are willing. speaker boehner is ready today. let's get the job done. >> all right. congresswoman kathy mcmorris rodgers. thank you for coming on the show. come back, glad you're there in the negotiations talking to everybody. >> eugene robinson, final thoughts this block? >> well, you know, actually congress and the president have agreed on a huge deficit reduction package. it's called the fiscal cliff. so, you know, in my darker moments, i think we're going over it, and what if we went over it and the world didn't end? that would be kind of interesting. we'd take a big bite out of the deficit and everybody's taxes would go up, but i think the sun would come up tomorrow. >> huh. >> we may find out. >> okay, little orphan annie. >> so, gene, do you think right now that's you advise the president to do if the republicans don't come forward with more specifics? >> if i'm advising the president right now i'm advising him to wait a while. and that maybe whe
Search Results 0 to 11 of about 12